DED approves incentive recommendations

The committee’s recommendations, made Nov. 21, were sent to DED Director Greg Steinhoff, who approved the report and forwarded it to Gov. Matt Blunt. The recommendations may be used in the drafting of legislation that will address changes in Missouri’s economic development incentives programs, according to a DED news release.

“Gov. Blunt and I are obviously concerned about the quality of Missouri’s incentive tools and the impact, or lack thereof, many have on our efforts to attract businesses, create jobs and make the best use of taxpayer dollars,” Steinhoff said in the release.

Blunt directed the department in April to evaluate the programs to determine their effectiveness, efficiency, fairness and economic impact and to recommend improvements necessary to enhance Missouri’s competitive environment, both nationally and internationally, for economic development opportunities.

The committee evaluated 62 existing programs in Missouri, all of which are either administered by the department or are directly related to the department’s community and economic development activities. The report provides an overview of each program, recommended actions and explanations for each recommendation. The final report will be available on the DED Web site, www.ded.mo.gov.